- Drilling Confirms Bulk Tonnage Potential of 'Block 450'
LONDON, UNITED KINGDOM--(Marketwire - Oct. 23, 2007) - Arian Silver Corporation ("Arian" or the "Company") (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) is pleased to present an exploration update on its San Jose Project in relation to the recent discovery of a zone of disseminated stockwork silver mineralisation and on 'Block 450', a section of the near-surface mineralisation of the San Jose Vein.
- Discovery of a zone of disseminated stockwork silver mineralisation means that there are now three distinct target areas within the Project.
- Exploratory drill hole into the stockwork zone intersected 101.6m of altered granites with pervasive quartz-calcite veining.
- Drilling at "Block 450" continuing with the aim of bringing this area into a compliant resource category.
- Results to date suggest the potential for low-cost open-pit mining and the prospect of achieving our initial production goal by 2009.
A stockwork zone of mineralisation was recently discovered by surface geological mapping that identified an area of pervasive quartz-calcite veining north of the San Jose Vein. A single exploratory drill-hole, hole SJ-07-000, was drilled into this area to explore for preliminary indications of grade and dimension of this stockwork zone. The hole intersected 101.6m of altered granites with pervasive quartz-calcite veining. Some of these veins have widths similar to other parts of the San Jose Vein System, and have been mapped on surface for more than one kilometre along strike.
'Block 450' is located within the upper oxidised portion of the San Jose Vein. This area has so far been drilled, typically from surface to 70m depth, for 400m along strike and each of the 5 drill-holes has intersected a zone of lower-grade silver mineralisation. Additional drill-holes are planned in this area to test the extent of this zone to the southwest. 'Block 450' is a demarcated mining block that is currently not Canadian National Instrument 43-101 compliant. Arian's current drilling programme is designed to bring this into a compliant resource category. Historical data obtained to date indicate that this mineralisation may be amenable to open-pit mining.
The following diagrams illustrate the location of the mineralised brecciated stockwork zone and Block 450 in relation to Arian's main target, the San Jose Vein.
To view Plate 1: Plan map of Block 450 and Stockwork area, with completed and proposed phase 1 drill-holes, please click on the following link:
To view Plate 2: Long section of block 450 drill-holes showing true widths and silver grades, please click on the following link:
Arian's Chief Executive Officer, Jim Williams, said, "The presence of wide zones of potentially bulk-mineable silver mineralisation at our San Jose Project of comparable grades to currently active open-pit operations, suggests the potential for low-cost open-pit mining here. We are planning to continue drilling the 'Block 450' area to expand the zone along strike, as we firmly believe that this area could be put into production relatively quickly and thus enable us to achieve our production goal by 2009".
When Arian acquired the San Jose Project in December 2006 its key feature was the San Jose Vein. This recent discovery of the mineralised brecciated stockwork zone adds a significant new dimension to the Project and marks another milestone in the exploration success achieved to-date. The Company has previously announced (press releases 26 July, 13 August and 11 September 2007) the discovery of bonanza-grade silver as well as high-grade lead and zinc results from the current drilling programme. Following the latest discovery there are now three distinct target areas within the San Jose Project, namely the San Jose Vein (strike length approximately 12km), Block 450 (upper/surface oxidised portion of the San Jose Vein), and the stockwork zone.
Table 1 Selected Assay Results from 'Block 450' and Stockwork Zones Hole From To Core Length True Au Ag (m) (m) (m) Thickness (m) (g/t) (g/t) SJ-07-000 69.70 171.30 101.60 n/a(iii) 0.00 39.75 inc. 111.70 138.80 27.10 n/a(iii) 0.00 143.20 inc. 111.70 114.70 3.00 1.93 0.00 155.13 inc. 132.85 138.80 5.95 3.82 0.00 134.31 inc. 127.45 128.85 1.40 0.90 0.00 246.40 SJ-07-004(i) 55.00 74.40 19.40 13.70 0.04 151.20 SJ-07-005(ii) 49.45 73.80 24.35 17.2 0.02 83.97 inc. 67.50 71.70 4.20 2.4 0.08 217.00 inc. 69.55 70.65 1.10 0.6 0.16 410.50 SJ-07-006(i) 41.45 70.55 29.10 20.60 0.04 98.72 inc. 52.30 54.50 2.20 1.60 0.09 276.00 SJ-07-007(ii) 0.00 60.00 60.00 42.4 0.01 81.07 inc. 20.80 25.00 4.20 2.4 0.00 215.53 inc. 20.80 22.15 1.35 0.8 0.00 396.00 inc. 37.65 40.80 3.15 1.8 0.06 315.95 SJ-07-008 53.40 72.80 19.40 13.7 0.01 111.25 inc. 61.40 64.40 8.00 4.6 0.00 169.00 inc. 56.40 59.40 3.00 1.7 0.00 225.17 inc. 56.40 57.40 1.00 0.6 0.00 360.20 (i) Results reported in press release dated August 13th, 2007 (ii) Partial results reported in press release dated August 13th, 2007 (iii) Exact dimensions of the Stockwork zone are not known at present.
All technical information for the San Jose Project is obtained and reported under a formal quality assurance and quality control (QA/QC) programme. The core is logged and photographed by Arian staff and then split using a diamond saw. Half the core is stored on-site in a secure core shed and the other half is sampled, bagged and secured before transporting to Inspectorate's sample preparation facility in Durango, Mexico. The entire half-core is crushed and two kilograms is pulverized and homogenized. 150 gram pulp samples are then air freighted to Inspectorate's analytical laboratory in Reno, Nevada for analysis. Systematic assaying of duplicates is performed for precision and accuracy; check assays are regularly conducted by Inspectorate. Each sample has its own unique sample number. Inspectorate's laboratories in Durango, Mexico and Reno, Nevada are ISO 17025 and ISO 9001:2000 accredited.
Approximately 5% of the analysed samples are re-sampled and sent to the ALS Chemex preparation facility in Guadalajara, Mexico. The samples consist of both coarse reject samples and 150 gram pulp samples. The coarse material is crushed and pulverised, and all the pulp samples are air freighted to ALS Chemex's analytical laboratories in Vancouver, British Columbia, for analysis. Results from all duplicate analyses are compared to identify potential analytical or sampling errors.
Inspectorate and ALS Chemex laboratories are independent of Arian.
The samples were analysed for 32 elements by ICP (inductively coupled plasma), preceded by an Aqua Regia digestion. High-grade samples (gold greater than 3 g/t and silver greater than 100g/t) were re-analysed by fire assay with a gravimetric finish.
Additional information with respect to the San Jose Project is contained in a technical report prepared by A.C.A. Howe International Limited, dated April 30, 2007, and entitled "Technical Report on the San José Project, Zacatecas, Mexico". A copy of this report can be obtained from SEDAR on www.sedar.com.
Mr. Jim Williams, Eur Ing, Eur Geol, BSc, MSc, DIC, FIMMM, CEng, CGeol, and Chief Executive Officer of Arian, is a "Qualified Person" as defined in the AIM guidelines of the London Stock Exchange, and a "Qualified Person" as defined in the Canadian Securities Administrators National Instrument 43-101. This press release has been prepared under Mr. Williams' supervision. Mr Williams has verified the data disclosed by this release (including sampling, analytical and test data underlying the information).
Arian Silver Corporation is a silver exploration company listed on London's AIM and "PLUS", on Toronto's TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian is active in Mexico, the world's largest silver producing country. The Company's main projects are the Calicanto and San Jose projects in Zacatecas State and the Tepal project in Michoac n State. Part of Arian's forward-looking strategy lies in the envisaged use of large scale mechanized mining techniques over wider mineralized structures, which reduces the overall operating cost per ounce of silver, and to build up National Instrument 43-101 compliant resources.
Arian was founded by Jim Williams, Chief Executive Officer, and Tony Williams, Chairman, who together have over 50 years experience in exploration, project construction and mining worldwide.
Further information can be found by visiting Arian's website: www.ariansilver.com or the Company's publicly available records at www.sedar.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this release.
This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding exploration results, the estimation of mineral resources, potential mineralization, potential mineral resources, future production and the Company's exploration and development plans and objectives) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration results will not be consistent with the Company's expectations, uncertainties relating to the availability and costs of financing needed in the future, changes in commodity prices, changes in equity markets, political developments in Mexico, changes to regulations affecting the Company's activities, foreign currency fluctuations, delays in obtaining or failures to obtain required regulatory approvals, the uncertainties involved in interpreting exploration results and other geological data, and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
FOR FURTHER INFORMATION PLEASE CONTACT:
Arian Silver Corporation
Jim Williams - CEO
+44 (0)20 7529 7511
Bishopsgate Communications Ltd.
Maxine Barnes / Nick Rome
+44 (0)207 562 3350
Grant Thornton Corporate Finance
+44 (0)207 385 5100
Haywood Securities (UK) Limited
Daniel Brooks / Tom Beattie
+44 (0) 207 031 8000
Vanguard Shareholder Solutions
Keith Shaefer / Paul Lathigee
(604) 608-0824 or Toll Free: 1-866-898-0825